JMP Securities Issues Positive Forecast for Robinhood Markets (NASDAQ:HOOD) Stock Price

Robinhood Markets (NASDAQ:HOOD) had its price target upped by JMP Securities from $30.00 to $33.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a market outperform rating on the stock.

Other equities analysts also recently issued research reports about the stock. KeyCorp upped their price objective on shares of Robinhood Markets from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Morgan Stanley increased their price target on shares of Robinhood Markets from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Piper Sandler increased their price target on shares of Robinhood Markets from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Keefe, Bruyette & Woods lowered their price objective on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Finally, Barclays upped their price objective on Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $25.17.

Robinhood Markets Price Performance

NASDAQ:HOOD opened at $23.97 on Thursday. The firm has a market cap of $21.21 billion, a PE ratio of 40.63 and a beta of 1.83. The company has a 50-day moving average of $23.44 and a 200 day moving average of $21.43. Robinhood Markets has a 1-year low of $7.91 and a 1-year high of $28.58.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.61%. The business’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.09) earnings per share. Sell-side analysts anticipate that Robinhood Markets will post 0.74 EPS for the current fiscal year.

Insider Activity

In other news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Steven M. Quirk sold 208,291 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $24.98, for a total value of $5,203,109.18. Following the completion of the transaction, the insider now owns 346,020 shares in the company, valued at $8,643,579.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,639,654 shares of company stock worth $110,241,632 in the last quarter. Corporate insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HOOD. Allspring Global Investments Holdings LLC raised its holdings in shares of Robinhood Markets by 1,211,858.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after acquiring an additional 3,817,355 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Robinhood Markets by 37.7% during the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after acquiring an additional 2,094,800 shares during the period. Sparta 24 Ltd. raised its holdings in shares of Robinhood Markets by 905.8% during the 3rd quarter. Sparta 24 Ltd. now owns 1,625,158 shares of the company’s stock worth $38,061,000 after acquiring an additional 1,463,578 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Robinhood Markets by 169.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,991,586 shares of the company’s stock worth $40,092,000 after acquiring an additional 1,251,495 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of Robinhood Markets by 274.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,661,824 shares of the company’s stock worth $37,341,000 after acquiring an additional 1,218,317 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

About Robinhood Markets

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.